Owlet (NYSE:OWLT) Issues Quarterly Earnings Results, Beats Expectations By $0.41 EPS

Owlet (NYSE:OWLT) posted its earnings results on Tuesday. The company reported ($0.07) EPS for the quarter, topping the consensus estimate of ($0.48) by $0.41, Zacks reports.

Owlet Price Performance

OWLT stock traded up $0.07 during mid-day trading on Tuesday, hitting $4.57. 36,554 shares of the stock were exchanged, compared to its average volume of 33,514. The stock has a market capitalization of $73.28 million, a price-to-earnings ratio of -1.91 and a beta of 1.50. The business has a fifty day moving average price of $4.63 and a 200 day moving average price of $4.66. Owlet has a 12 month low of $3.20 and a 12 month high of $5.96.

Wall Street Analysts Forecast Growth

Separately, Lake Street Capital started coverage on shares of Owlet in a research note on Friday, February 21st. They issued a “buy” rating and a $8.50 price target for the company.

Insider Activity at Owlet

In related news, insider Jonathan Harris sold 7,740 shares of Owlet stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $4.30, for a total value of $33,282.00. Following the transaction, the insider now owns 280,877 shares in the company, valued at $1,207,771.10. This trade represents a 2.68 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In the last three months, insiders have sold 25,254 shares of company stock valued at $111,558. Corporate insiders own 67.07% of the company’s stock.

About Owlet

Owlet, Inc provides digital parenting solutions in the United States and internationally. The company's platform focuses on giving real-time data and insights to parents. It offers Dream Sock, a wearable infant health monitor equipped with pulse oximetry technology to track vitals signs, such as pulse rate, oxygen, activity, and sleep patterns; BabySat which is intended for infants with heightened health risk; Owlet Cam, a monitoring device in smartphones that offers video and audio, predictive sleep insights, and cry detections; and accessories, including Owlet Sleeper, as well as Duo and Dream Duo that combines Smart Sock with the Owlet Cam.